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Special judge while rejecting Nawandar’s bail plea observed “... in light of an apparent chain or maze of entities through which these funds may have been funneled/ diverted/ round-tripped/ invested is inevitably a painstaking and sequential exercise. Multiple persons are reasonably to be expected to emerge as having participated in the fraud which allegedly commenced with the obtaining of these loans, continues with the diversion of the same and may still not have concluded in as much as the funds may still be in circulation or may, at the very least, be still undiscovered,”the order read.

While the salt-to-steel conglomerate is in the final stages of closing orders for around 200 narrowbody and widebody jets, it is planning to take aircraft from the secondary lease market to beef up capacity in the short term.

ET had first reported on May 27 that Reliance Industries, HPCL-Mittal Energy, Jindal Poly Films, Gail, Jindal Power, MCPI Ltd, and a consortium of ONGC and Indian Oil have submitted expressions of interest (EoI) for JBF Petrochemicals.

Plans for a stake sale by Bain and Advent were expedited after earlier efforts to list the company in India or the US fizzled out as technology stock valuations faced a global meltdown.

The IPO consists of an offer for sale of up to 1.72 crore shares by the promoters and selling shareholders. Bids can be made for a minimum of 46 shares and in multiples of 46 shares thereafter. The proposed primary offering is open for subscription till Friday, August 26.

The Dow Jones Industrial Average fell 414 points, or by 1.23%. S&P 500 and Nasdaq Composite dropped 1.43% and 1.62%, respectively.

The index has given up almost 500 points in just two trading sessions, whereas Nifty Bank has lost around 1,500 points during this period.

In FY22, a majority of the funds raised through the instrument were to refinance bond issues done in FY17, Icra Ratings said in the report on Monday.Majority of the bonds have a call option in the fifth year, resulting in the significant jump in new issuances which are basically for refinancing the earlier obligations.

“Valuations have moved up both absolute as well as relative to the emerging market pack. It is possible that in the near term, we will see some degree of consolidation or volatility and what we have been saying all through is that this is a year of bottom-up stock picking and that continues to be our stance with a slight tilt towards largecap over midcaps and smallcaps at this point.”

After its recent partnership with YGG, Manel Sort and his team are focusing on expanding across continents through YGG’s sub-DAOs, offering cohort NFT Chests to gamers and guild members, and the opportunity to play G4AL’s upcoming Elemental Raiders.